ASGABAT, Turkmenistan, April 12 (UPI) -- Turkmenistan and China have seen significant growth in their cooperation in the fields of oil and gas, Turkmen TV reported.
Since independence, Chinese businesses have invested heavily in the Turkmen gas and oil sector.
In 1997, one of the first foreign contracts to be concluded Turkmennebit State Concern was with China Oil Engineering and Construction Corp. By 2003, the company had renovated 255 outdated oil wells and produced more than 2 million tons of oil.
China National Oil & Gas Exploration and Development Corp. has also invested in Turkmenistan, renovating oil wells and increasing production at the Gumdag oil and gas field. The company has renovated 220 wells and produced 177,354 tons of oil since 2002.
In addition to production and renovation, there has been increased Chinese involvement in the service sector, where Chinese firms have been involved in implementing new technologies and equipment, while also providing maintenance and offering spare parts.
The majority of drilling rigs, specialized equipment and underground and capital renovation equipment in use in Turkmen oil and gas fields were provided by China. The Chinese equipment has enabled Turkmenistan to improve its production resources and increase output.
